Idaho Life Only Flashcards
1
Q
Within how many days must the replacing insurer send notice to the insurer that’s being replaced?
A
5 business day
2
Q
What is the grace period for annuities?
A
30 days
3
Q
How much interest can an insurer charge on payments that are made during the grace period on an annuity?
A
Up to 6% annually for every day that passes up to payment date
4
Q
How long is the free look period for annuities?
A
20 days
5
Q
Who is a qualified institutional buyer in regards to life settlements?
A
Someone that owns and invests at least $100 million in securities and is allowed to trade unregistered securities.
6
Q
How long is the grace period of group life insurance?
A
31 days
